Macro Briefing: 3 November 2021

* Republicans score win in Virginia governor’s race
* GOP may win NJ governor’s race in the still-too-close-to-call election
* Fed expected to announce that it will begin tapering bond-buying program
* Zillow shuts down house-flipping division after forecasting model fails
* China’s service sector posted solid growth momentum in October via PMI data
* Global Manufacturing PMI steady in October, reflecting moderate expansion
* US regular gasoline edges up to 7-year high — $2.45 a gallon: